First Financial Bankshares (NASDAQ:FFIN) Issues Quarterly Earnings Results

First Financial Bankshares (NASDAQ:FFIN) issued its quarterly earnings results on Thursday. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11), Zacks reports. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis.

First Financial Bankshares Trading Down 1.0%

Shares of NASDAQ:FFIN opened at $31.85 on Friday. First Financial Bankshares has a 1-year low of $30.58 and a 1-year high of $44.66. The stock has a market cap of $4.56 billion, a PE ratio of 18.52 and a beta of 0.86. The stock’s fifty day simple moving average is $34.81 and its two-hundred day simple moving average is $35.03.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds have recently modified their holdings of FFIN. Invesco Ltd. increased its position in shares of First Financial Bankshares by 170.9% during the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock valued at $39,615,000 after acquiring an additional 694,534 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Financial Bankshares by 314.0% in the 2nd quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock worth $17,640,000 after buying an additional 371,847 shares during the last quarter. Jane Street Group LLC grew its position in First Financial Bankshares by 484.7% during the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank’s stock valued at $9,038,000 after buying an additional 208,573 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in First Financial Bankshares by 1,571.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 156,321 shares of the bank’s stock worth $5,624,000 after buying an additional 146,971 shares during the last quarter. Finally, Marshall Wace LLP raised its position in First Financial Bankshares by 1,126.4% in the second quarter. Marshall Wace LLP now owns 80,943 shares of the bank’s stock worth $2,912,000 after acquiring an additional 74,343 shares during the period. Institutional investors own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cantor Fitzgerald started coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. Finally, Hovde Group raised their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.67.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.